NXP AND GEELY ANNOUNCE STRATEGIC PARTNERSHIP FOR AUTOMOTIVE RESEARCH AND DEVELOPMENT

AS VEGAS, Jan. 06, 2017 (GLOBE NEWSWIRE) -- (CES 2017) -- At CES® 2017, NXP Semiconductors (NASDAQ:NXPI), the world’s leading provider of automotive electronics solutions, announced a long-term strategic partnership with Geely Automobile Group, a Chinese multinational automotive manufacturing company. The companies will work together on a new platform for research and development to connect innovation in semiconductor technology more efficiently with demand in the automobile industry. The efforts will support world-class, tailor-made solutions for Geely, and build the global competitiveness of China’s automobile industry.

The initial phase of the partnership will focus on enhancing in-vehicle infotainment and telematics experiences through state-of-the-art automotive micro controllers, radio chips, secure car access, automotive networks and other applications.

Additional phases will include technical and R&D cooperation in the fields of advanced driver assistance systems (ADAS); intelligent interconnected vehicles or vehicle-to-everything (V2X); and automotive network security. This partnership is part of the global effort underway to transform cars from simply a mode of transportation to secure information hubs.

Quotes

Hu Zhengnan, director of Geely Automobile Group Research Institute, said, “Geely Automobile Group’s core development goals for the next few years are to achieve an annual output of 2 million units by 2020, and to enter into the list of top-10 global automotive companies. Our continued cooperation with NXP is a win-win partnership for our long-term development. We believe that through in-depth cooperation in automotive electronics and the introduction of world-class technology into our vehicles and services offerings, Geely Auto Group will meet its ambitious global goals.”

Steve Owen, executive vice president of Sales and Marketing for NXP Semiconductors, said, “We are very pleased to have a long-term strategic partnership with Geely Auto Group, China’s leading privately owned automotive company. NXP has cooperated with Geely for many years on car entertainment systems, especially in the field of high-performance application processing using NXP’s i.MX processor family. In this partnership we will continue to serve as a trusted advisor providing dedicated technology to help Geely’s brands become ever more competitive.”

Quick Facts:

>> In the internet age, 90 percent of all car innovations come from electronics.

>> NXP is the industry leader in ADAS, automotive infotainment systems, in-vehicle networking, vehicle-to-vehicle and vehicle-to-infrastructure (V2X), and is a global leader in automotive electronics and interconnection.

>> To date, eight of the world’s top-10 car makers are using NXP’s ADAS processors.

>> At CES® 2017, NXP introduced the world’s first SAF4000 single-chip solution compatible with all automotive infotainment and broadcasting standards.

About Geely Auto

Geely Auto Group is China’s fastest growing privately owned Chinese automotive group. Geely Auto Group (Geely Auto) is a subsidiary of Zhejiang Geely Holding Group (ZGH) which owns Volvo Cars and the London Taxi Company. Geely Auto Group consists of two brands, Geely Auto, a mass market orientated brand and the recently introduced LYNK & CO, which is aimed at global markets. In 2016 Geely Auto sales reached over 700,000 units, an increase of over 20 percent on 2016 sales.